Charles: You've been investing in the OTC market for several years. Have you ever encountered a truly honest CEO who was able to increase shareholder value?
Why do you think that Nils Ollquist is this rarest of rare? The vast majority of money raised goes to pay executive salaries, not acquire mines or develop business. Ollquist pays himself $240,000/year despite the fact that he has other business ventures through his OFS Capital Group company.
Both the coal and gold mine deals are non-binding. If BRNE is going to come up with the $7 million to complete the acquisition of the gold mines, they will need significant dilution.
The market capitalization at recent prices is over $65 million for a very insolvent, negative net worth company. It's clear that the current share price is MASSIVELY over-valued given the current status of the company.
Most importantly, however is that Ollquist has already issued several extremely false and misleading press releases that are contradicted in his own SEC filings.
That is the kind of thing that could lead to an SEC suspension, but because BRNE is not really attracting new investors, it's likely too small a scam to receive much attention. However, if BRNE ever did start to gain momentum, the chances of enforcement scrutiny are much greater.
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